Rail access will be a key factor in lining up tenants, Paris says. "As industrial specialists, we work diligently to secure land with superior access to transportation," he adds. "Our development philosophy is to acquire affordable industrial land ahead of the growth curve in locations with excellent access to ground, rail and air infrastructures, to develop high-quality, highly flexible facilities, then pass on the savings to tenants in the form of competitive lease rates."

The site also is within five miles of I-80/I-94, which offers access to Indiana and Michigan.

In addition to tax increment financing, the village is prepared to offer Cook County Class 6b tax-reduction incentives, Enterprise Zone benefits and other federal, state and local incentives. Mayor Roger G. Peckham says the project could generate $60 million in local property taxes over the next 20 years.

Reno, NV-based DP Partners, which has partnered with California State Teachers' Retirement System to develop five million sf a year, was chosen by the village board after a request for proposals process that narrowed the field of potential developers down to three. Grubb & Ellis senior vice president Michael J. Piscoran, SIOR was exclusive listing agent on the property, which DP Partners will acquire after negotiating a development agreement with the village.